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Gungnir Resources Launches New Website

Marketing Announcement

#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 1

News Release GUG: TSX-V

OTCPK: ASWRF

GUNGNIR

Gungnir Resources Launches New Website

Vancouver – February 1, 2018 - Gungnir Resources Inc. (GUG: TSX -V, ASWRF: OTCPK) (“Gungnir” or the

“Company”) is pleased to announce that it has launched a new corporate website.

“Through this freshly re-designed website we seek to keep our shareholders up-to-date and well

informed on Company developments and to introduce Gungnir to new investors. We are expecting 2018

to be a busy year and plan to r outinely update the site with new maps, deposit models, and photos of

prospecting samples and most importantly new drill core. Our plan for 2018 is to drill-test extensions of

the Knaften 300 G old Zone, regional gold targets and brand-new nickel-copper targets at Knaften. At

Lappvattnet and Rormyrberget, which in my opinion are probably the top historic nickel -copper-cobalt

massive sulphide deposits in Sweden, w e are evaluating new geophysical results and modelling existing

data”, commented Jari Paakki, CEO of Gungnir.

Mr. Jari Paakki, M.Sc., P.Geo., is a Qualified Person as defined by National Instrument 43-101 - Standards

of Disclosure for Mineral Projects. Mr. Paakki prepared the technical information contained in this news

release and has approved its disclosure.

Please visit the site at:

www.gungnirresources.com

About Gungnir Resources

Gungnir Resources Inc. is a Canadian-based TSX-V listed mineral exploration company (GUG: TSX-V) with

gold and base metal permits in northern Sweden within a region hosting 12 million ounces of gold

delineated in existing and mined resources plus several past-producing and producing base metal mines.

The Company’s key gold project, Knaften, is situated at the southern extension of the “Gold Line” which

hosts a number of gold deposits including Faboliden and Svartliden (Dragon Mining), and Barsele

(Agnico Eagle and Barsele Miner als). The Company also has permits covering two nickel deposits in

Sweden, Lappvattnet and Rormyrberget which collectively host 70 million pounds of nickel in historical

resources (see NR dated February 24, 2015) , and newly staked Norrbotten gold and base metal permits

in the Norrbotten District. Gungnir additionally holds a $5,000,000 royalty stream and received the first

annual payment of $1,000,000 on May 2, 2017. The next annual payment of $1,000,000 is due on April

30, 2018. Further information about the Company and its properties may be fou nd at

www.gungnirresources.com or at www.sedar.com.

On behalf of the Board,

Jari Paakki, CEO and Director

For further information contact:

Jari Paakki, CEO

Tel: 705-507-4470

[email protected]

#404-1688 152nd Street, Surrey, BC V4A 4N2 |T: 604.683.0484 |F: 604.683.7497 2

News Release GUG: TSX-V

OTCPK: ASWRF

GUNGNIR

Chris Robbins, CFO

Tel: 604-683-0484

[email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that ter m is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward -Looking Statements: Certain statements made herein may contain forward -

looking statements or i nformation within the meaning of Canadian securities laws. In certain cases, forward -

looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget",

"scheduled", "estimates", "forecasts", "intends", "anticipate s" or "believes", or variations of such words and

phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken",

"occur" or "be achieved", or the negative of these words or comparable terminology. By thei r very nature forward-

looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual

performance of the Company to be materially different from any anticipated performance expressed or implied by

the forward-looking statements. Such forward-looking statements or information include, but are not limited to,

statements or information with respect to Gungnir Resources’ plan for future funding, and exploration and

development of its properties. Forward -looking statements or information are based on a number of estimates

and assumptions and are subject to a variety of risks and uncertainties, which could cause actual events or results

to differ from those reflected in the forward -looking statements or information. Should one or more of these risks

and uncertainties materialize, or should underlying estimates and assumptions prove incorrect, actual results may

vary materially from those described in for ward-looking statements or information. For example, there is no

certainty, that any economically viable mineral deposit will be located on the properties, or that the Company will

receive or be able to raise sufficient capital to complete all of its explo ration programs. Accordingly, undue reliance

should not be placed on forward -looking statements or information. Gungnir does not expect to update forward -

looking statements or information continually as conditions change, except as may be required by secur ities law.